Vietnam: Sweet Potato Market 2024

Sweet Potato Market Size in Vietnam

The Vietnamese sweet potato market dropped to $X in 2022, falling by X% against the previous year. In general, consumption, however, showed a relatively flat trend pattern. As a result, consumption reached the peak level of $X. From 2020 to 2022, the growth of the market remained at a lower figure.

Sweet Potato Production in Vietnam

In value terms, sweet potato production shrank to $X in 2022 estimated in export price. The total output value increased at an average annual rate of X% from 2012 to 2022; the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2019 with an increase of X% against the previous year. As a result, production attained the peak level of $X. From 2020 to 2022, production growth remained at a lower figure.

In 2022, the average yield of sweet potatoes in Vietnam declined to X tons per ha, which is down by X% compared with the year before. The yield figure increased at an average annual rate of X% from 2012 to 2022; the trend pattern remained relatively stable, with somewhat noticeable fluctuations throughout the analyzed period. The growth pace was the most rapid in 2014 with an increase of X%. The sweet potato yield peaked at X tons per ha in 2020; however, from 2021 to 2022, the yield remained at a lower figure. Despite the increased use of modern agricultural techniques and methods, future yield figures may still be impacted by adverse weather conditions.

The sweet potato harvested area in Vietnam fell to X ha in 2022, waning by X% compared with the year before. Over the period under review, the harvested area continues to indicate a pronounced descent. The growth pace was the most rapid in 2017 with an increase of X% against the previous year. The sweet potato harvested area peaked at X ha in 2012; however, from 2013 to 2022, the harvested area remained at a lower figure.

Sweet Potato Exports

Exports from Vietnam

In 2022, approx. X tons of sweet potatoes were exported from Vietnam; which is down by X% compared with the previous year's figure. Over the period under review, exports, however, posted prominent growth. The most prominent rate of growth was recorded in 2016 when exports increased by X%. The exports peaked at X tons in 2017; however, from 2018 to 2022, the exports stood at a somewhat lower figure.

In value terms, sweet potato exports contracted markedly to $X in 2022. Overall, exports, however, saw a resilient increase. The growth pace was the most rapid in 2016 with an increase of X%. Over the period under review, the exports reached the peak figure at $X in 2017; however, from 2018 to 2022, the exports failed to regain momentum.

Exports by Country

Thailand (X tons), Japan (X tons) and Malaysia (X tons) were the main destinations of sweet potato exports from Vietnam, together comprising X% of total exports.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Thailand (with a CAGR of X%), while the other leaders experienced more modest paces of growth.

In value terms, Thailand ($X), Japan ($X) and Malaysia ($X) constituted the largest markets for sweet potato exported from Vietnam worldwide, together comprising X% of total exports.

Thailand, with a CAGR of X%, saw the highest rates of growth with regard to the value of exports, in terms of the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average sweet potato export price stood at $X per ton in 2022, rising by X% against the previous year. Over the last decade, it increased at an average annual rate of X%. The growth pace was the most rapid in 2019 when the average export price increased by X% against the previous year. As a result, the export price reached the peak level of $X per ton. From 2020 to 2022, the average export prices remained at a lower figure.

Average prices varied noticeably for the major export markets. In 2022, amid the top suppliers, the highest price was recorded for prices to Japan ($X per ton) and Thailand ($X per ton), while the average price for exports to Singapore ($X per ton) and Malaysia ($X per ton) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Malaysia (X%), while the prices for the other major destinations experienced more modest paces of growth.

Sweet Potato Imports

Imports into Vietnam

In 2022, supplies from abroad of sweet potatoes decreased by X% to X tons, falling for the fourth consecutive year after two years of growth. Over the period under review, imports showed a deep downturn. The most prominent rate of growth was recorded in 2017 when imports increased by X% against the previous year. Over the period under review, imports reached the peak figure at X tons in 2018; however, from 2019 to 2022, imports stood at a somewhat lower figure.

In value terms, sweet potato imports shrank significantly to $X in 2022. In general, imports faced a abrupt curtailment. The growth pace was the most rapid in 2017 with an increase of X% against the previous year. Over the period under review, imports hit record highs at $X in 2018; however, from 2019 to 2022, imports remained at a lower figure.

Imports by Country

In 2022, Japan (X tons) was the main supplier of sweet potato to Vietnam, with a approx. X% share of total imports.

From 2012 to 2022, the average annual growth rate of volume from Japan was relatively modest.

In value terms, Japan ($X) constituted the largest supplier of sweet potatoes to Vietnam.

From 2012 to 2022, the average annual rate of growth in terms of value from Japan amounted to X%.

Import Prices by Country

The average sweet potato import price stood at $X per ton in 2022, which is down by X% against the previous year. In general, the import price recorded a pronounced setback. The pace of growth was the most pronounced in 2021 when the average import price increased by X%. Over the period under review, average import prices reached the maximum at $X per ton in 2012; however, from 2013 to 2022, import prices stood at a somewhat lower figure.

As there is only one major supplying country, the average price level is determined by prices for Japan.

From 2012 to 2022, the rate of growth in terms of prices for Taiwan (Chinese) amounted to X% per year.

Source: IndexBox Platform